The Grenada gazette. (Grenada, Miss.) 1885-18??, 1887-02-19
GOAL
Startling Discoveries
of Iron Ore and Coal.
A WONDERFUL ADVANCE IN REAL
ESTATE.
SOME BIG PURCHASES, INVOLVING
LARGE SUMS OF HARD CASH.

A syndicate, or land company, was
organized in Grenada on Tuesday
evening, composed of Messrs. Cuff 4
Whitaker, Max Gingburger, w. P.
fowler, G. L. Wilder, w. G. Mclean,
J. B. McCord, j. G., Longstreet, F. 4.
Austin, Drs. S. b. Smith, John K.
Hughes and s. d. Scruggs, who pur-
chased u half interest in twenty-one
hundred acres of land Just east Of the
city of Grenads, on which there 10 an
inexhaustible quantity of rich iron
ore, second in quality to none that
has ever been discovered in the
South. These gentlemen are men of
brains, nerve and means, and we are
assured that q half dozen shafts will
be sunk at an early day, and an in
vestigxtion of the hidden treasures
instituted. Confidence in the 8
tIon that there Is millions of d0lIars'
worth of iron and ste.s ore beneath
the surface of these mountains which
are stretched all around us, Is rapidly
growing, and If it is kept up ut the
same rate 1t will not be long ere the
anticipations Of to-day are realized
and Grenada will possess as much
magnetism to draw capitalists to her
midst as does Birmingham or as ever
did any wide-awake city. Not many
days since when some enthusiastic
advocate of Grenada's newly discov-
ed resources would approach a crowd
upon the streets, exhibit specimens
of ore and begin to tell about the in
exhaustible quantities of that prod
uct, some n or more in that crowd
could be seen to smile a sarcastic
smile and heard to utter the inquisi-
tive 'ah p Not SO now. The few days
that have elapsed, wen since our last
issue, and the evidence shown, has
not only confirmed the belief of the
enthusia site "iron ore advocate but
has made Of the unwilling, a willing
believer. Then, there no longer seems
10 be a doubt In the mind Of the most
skeptical, but evidence upon evidence
las wiped away all doubt; and now
the question Of the means and
night to make developments.
A few hours after the above pur-
,hase was made, another company
composed of Messrs. w. G. Mclean,
+. g. Latting, Jr., Sam. Vile, W. p.
E. Calm, G. l.. Wilder, Drs.
J. b. Smith and j. E. Hughes pur-
a tract Of four hundred acres
# land near here for which they paid
handsome sum. Many other real
state transfers of less magnitude
ave been made here within the last
ew days, and lots that a couple Of
weeks since could have been bought
or nearly nothing, now command
cry large p ices. While the
Increase in the value of real estate in
}renada has already reach wonder.
ully high, we are unable to calculate
he highest per cent. which it will
DON reach.
A company representing ten thou
and dollars in hard cash, has pur-
hased the tract Of land just west of
own on which is, besides an meal
ulable amount of iron ore, the ia !
lous Gibbs (mineraD springs. This
a very valuable purchase, and the
company Is composed of
'rs. j. e. Hughes and S. B. Smith,
lessrs. l.. r. Turner, w. g. Mclean, |
lax Ginsburger and w. p. fowler. t
On Wednesday evening Mr.. w. B. {
anders, living just south of Grenada,
to town Some specimens Of {
pal found on his place, which was t
urned and examined by competent c
ldges aad pronounced first Glass in \
very respect. The question now re-
'alus, In what quantities does the
BAL abound. The matter is now be- ,
lg In Investigated. !